Airtasker announces three major media partnerships
Airtasker has announced three major global media partnerships.
The announcement:
Airtasker Limited ASX ART (Airtasker) announces that its US operating company, Airtasker USA Inc (Airtasker USA), has secured a combined US$12.0 million ($18.4 million) in media capital through partnerships with Sinclair Broadcast Group, a division of Sinclair, Inc. (Sinclair) and Mercurius Media Capital LP (Mercurius).
Also today, Airtasker’s UK operating company, Airtasker UK Ltd (Airtasker UK) announces that Channel Four Television Corporation (Channel 4) has completed a follow-on investment of £4.0million ($7.8 million) in media capital. This latest round of investment follows Channel 4’s initial media capital investment of £3.5 million ($6.7m) in June 2023, for a total investment to date of £7.5 million ($14.5m). These combined announcements mean Airtasker globally now holds a further $26.2 million of media capital in addition to the $25.4 million 3 raised since June 2024, for a total of $51.6 million 2 raised in 2024.
Sinclair Media Partnership: US$6 million
Airtasker USA’s partnership with Sinclair provides US$6.0 million ($9.2 million) in advertising inventory, unlocking new opportunities to potentially promote the Airtasker brand within Sinclair’s 185 owned and/or operated television stations in 86 US markets and digital multicast networks including Comet, Charge! and The Nest.
Andrew Schnell, VP Corporate Strategy and Development at Sinclair said: “We are thrilled to announce our partnership with Airtasker through this media-for-equity collaboration. At Sinclair, we are always looking for innovative ways to accelerate growth and provide value to dynamic companies that are shaping the future. This deal is just one example of how we are expanding our strategy to include creative partnerships that drive mutual success. We look forward to working with Airtasker to help expand their footprint and mission of creating a community marketplace for tasks across the US”.
Mercurius Media Partnership: US$6 million
The strategic multi-year partnership with Mercurius provides Airtasker USA with US$6.0 million ($9.2 million) in premium advertising inventory, enabling access to a variety of media platforms including TelevisaUnivision, Sinclair and Willow TV. This collaboration allows Airtasker to leverage premium advertising inventory across broadcast, streaming, and digital networks through Mercurius partners including:
- TelevisaUnivision: The world’s leading Spanish-language media company with 38 cable networks and 35 radio stations plus digital properties reaching 100+ million daily users.
- Sinclair: A diversified media company and a leading provider of local news and sports that owns, operates and/or provides services to 185 television stations in 86 US markets.
- Willow TV: A leading sports media company specializing in cricket broadcasting and offering 24/7 high-definition coverage of international cricket matches, including live broadcasts, highlights, and expert analysis.
Piyush Puri, Founding Partner of Mercurius said: At Mercurius Media Capital, we’re proud to partner with Airtasker as it continues its incredible journey. We’ve been inspired by how Airtasker has transformed the way people connect with local service providers, building a platform that is not only scalable but deeply impactful for users and communities.
The US represents an exciting new chapter, and under Tim Fung’s leadership, Airtasker is set to redefine the local services economy. We’re thrilled to support this expansion by leveraging our media capital model to help amplify their growth and bring this innovative approach to even more people. This partnership is a perfect alignment of shared values and ambition, and I can’t wait to see what we can achieve together.”
Channel 4 Follow-on Investment: £4.0 million
Building on the rapid expansion of Airtasker in the UK, Channel 4 has completed a follow-on media capital investment of £4.0 million ($7.8 million) to further accelerate growth. This latest round of investment follows Channel 4’s initial media capital investment of £3.5 million ($6.7m) in June 2023, for a total investment to date of £7.5 million ($14.5m).The partnership will enable Airtasker to expand its presence on Channel 4’s broadcast and digital platforms which reach 47 million people 78% of all UK individuals) each month.
Vinay Solanki, Head of 4 Ventures, said: “It’s been great to see Airtasker’s marketplace spread rapidly across the UK from London to Birmingham and more recently Manchester, using the power of our Channel 4 platform. Channel 4 growing its stake in Airtasker UK is a testament to the success of the media for equity model. As we enter the festive period, Brits are spending more time at home in front of the TV. This creates an opportunity to engage with the right audiences at the right time, making this additional investment timely and significant for both businesses.”
Global Media Partnership Strategy
These new media partnerships demonstrate a consistent approach to a global growth strategy which enables Airtasker to leverage its scalable software platform and utilise cash generated by its Australian operations to expand into new markets, turbocharged by local media partnerships.
Importantly, the investment structure in which Airtasker repurchases all media partner equity in Airtasker UK and Airtasker USA, based on a multiple of revenue generated in each local entity, enables massive upside whilst mitigating downside risk – and at the same time represents a highly compelling investment proposition for media partners.
Commenting on the announcement, Airtasker Founder and CEO Tim Fung said: “Today I am super pumped to say that we’ve now completed over $51 million in media partnerships in 2024 alongside leading partners including Sinclair Broadcast Group and Mercurius Media Capital in the US as well as a follow-on investment from Channel 4 in the UK.
We’re seeing rapid growth in the UK where revenue is up over100% year-on-year in 1Q25 since we launched our first media partnership with Channel 4 and these new partnerships – in addition to our alliances with market leading brands such as oOh!media, ARN Media, TelevisaUnivision and iHeartMedia – will let us really step on the gas pedal and take Airtasker’s mission – to empower people to realise the full value of their skills – across the world!”
Source: INTHEMEDIAPR
